Shandong Int'l Power to outperform in macro uncertainties: Goldman Sachs

Goldman Sachs said it believes the reliability of cash flows and an attractive P/E multiple of 5.9 times prospective 2001 earnings should enable Shandong International Power Development (1071) to outperform amid current macro uncertainties. In a note to clients today, analyst Stephen Oldfield said it is maintaining its Market Outperformer rating on the stock. "SIPD is trading at an estimated 2001 P/E to 2000-2005 total return multiple of 0.5 times. Our six-month share price target is HK$2.15, based on a multiple of 0.8 times." SIPD announced third-quarter generation of 19.7 billion kWh, an increase of 4 percent year on year. The company achieved 77 percent of the US house's 2001 generation forecast, and looks on track to meet its full-year target.

Related stock : (1071)